How long will it take you to pay off the credit card balance

Assignment Help Financial Management

Reference no: EM132009225

Suppose your credit card balance is $17,000. The minimum payment is $323, and the annual percentage rate is 18.5%.

a. If you make a constant monthly payment of $323, how long will it take you to pay off the credit card balance?

b. How much interest will you pay if you elect to make the minimum payment?

a. If you make a constant monthly payment of $323 how long will it take you to pay off the credit card balance?

Reference no: EM132009225

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